Sterling holds up against the Euro

By Grace Smyth

Sterling seems to have kept its strength against the Euro.  We saw the pairing hit fresh highs yesterday, giving us the best trading levels since February 2020 – providing a great trading opportunity for those looking to secure euros for their upcoming overseas property purchases, and topping up their euro accounts.

Today there is no data out for the UK and the markets focus is on the US as they release their latest Consumer Inflation figures at lunchtime. Expectation is for the figure to fall from 4.5% YoY to 4.3%.

Tomorrow it’s the UK’s turn to release various monthly figures. Manufacturing and Industrial production, and GDP are the ones to watch out for and due to be released first thing in the morning, followed by more US data in the form of Industrial production and Initial Jobless Claims both in the afternoon and a quiet day on the day front on Friday.

This morning the market looks to have corrected back slightly, however rates are still up at the best we have seen in some time so should you have an upcoming requirement for euros it would be wise to get in touch with us to see what options we can provide to help you lock in your currency. Our limit order and forward contract options are a great solution should you wish to lock in a rate and settle the balance later. GBP-USD remains under some pressure so stay in touch with your account manager to see how things develop should you have Dollar requirement.